Earlier this month, Peak Credit Union President and CEO David Tuyo confirmed that employee layoffs had occurred at the Pacific Northwest credit union, which has 35 branches across Washington and Oregon — including several in Lewis and Thurston counties.
Formerly known as TwinStar Credit Union, Peak Credit Union was formed in 2023 when TwinStar merged with Northwest Community Credit Union, according to previous reporting by The Chronicle.
“We can confirm that Peak Credit Union recently made some organizational changes that included the elimination of certain roles within the organization,” Tuyo said in an emailed statement to The Olympian. “These decisions were not made lightly and reflect the need to align our structure with current economic conditions, our purpose as a credit union, and to ensure that we remain healthy, stable, and able to serve our members over the long term. Our focus right now is on supporting those impacted through this transition with care and respect.”
Tuyo provided no details as to how many employees were laid off in total.
The Chronicle reached out to Peak Credit Union representatives to ask about how many layoffs occurred, along with if more may be coming, though no response has been given. Rumors concerning longtime employees were also asked about.
These layoffs come less than two months after the TwinStar Community Foundation was officially renamed the PeakCU Foundation, reflecting its role in Peak Credit Union to help provide funding for education, food security and financial literacy in the areas where Peak Credit Union branches are located.
“This change reflects who we are today and where we’re going,” Tuyo said in a February news release. “The PeakCU Foundation represents our dedication to focused, local giving built on a much longer history of educational support. Aligning under one name allows us to build on that legacy and expand our impact across Oregon and Washington.”
Since its establishment in 2015, the PeakCU Foundation provided over $245,000 towards school lunch programs, more than $742,000 in Classroom Cash grants for teachers, councilors and librarians and nearly $800,000 in scholarships for students, the release added.
For more information on Peak Credit Union and the PeakCU Foundation, visit their websites at https://www.peakcu.org/ and https://www.peakcu.org/foundation.
